Governments and legislatures can erect barriers to entry. Which of the following would NOT be one of them?

A) licenses
B) tariffs
C) patents
D) laws that ensure property rights

Answer: D

Economics

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The more elastic the demand, the less consumers will respond to a change in price

a. True b. False Indicate whether the statement is true or false

Economics

Refer to the table above. ________ has the comparative advantage in making pies and ________ the comparative advantage in making cakes. Time to Make a PieTime to Make a CakeMartha60 minutes80 minutesJulia50 minutes60 minutes

A. Julia; Martha B. Martha; Julia C. Julia; Julia D. Martha; Martha

Economics